Price Analysis

The Bull Run Of Decentraland(MANA) Price Is Still Not Over, Upcoming Rally May Be Huge!

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Highlights

    Decentraland price underwent a magnificent rally after a pretty long consolidation for nearly 6 months

    The rally appears to resume within a very short time as the asset appears to have to accumulate strength to pull the next leg up

The NFT’s are gaining huge popularity in recent times as more tokens like Decentraland or The SandBox, Axie Infinity is ranging to new highs. The NFT’s has lost their trend during the end of Q3 2021. However, they regained their lost attention within no time and marched towards new highs. On of the popular NFT, Decentraland (MANA) price rallied like a monster and moreover, the bull run could resume shortly after a slight consolidation.

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The famous May-crash that bought most of the crypto assets down by more than 50% and MANA price also suffered a similar trend. Further, while the other altcoins rebounded well, MANA remained away from the crowd. However, the asset royally flipped the narrow trend since the beginning of the current trading month and smashed new highs.

Also Read: What Will Be Solana (SOL) Price’s Next Move? Technicals Are Bearish Yet Pattern’s Bullish!

manaprice
Source: Tradingview

At the press time, the price is trending within a bullish flag in a daily frame. This indicates a significant uptrend awaiting ahead in the next couple of days. Yet before that, the price may also experience a slight pullback to hit the lower support levels. And finally, ignite a notable uptrend piercing through the pattern anytime this week.

Collectively, the Decentraland price is experiencing a huge influx of trading volume for the past couple of days including the current 68% jump. The market capitalization is also heading towards the $5 billion market cap. Yet the ATH appears to be a little distinct but still within the reach.

Also Read: Elrond and Algorand Price To Moonland! Know These Target Points!

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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